Chinese scrap imports from the US see significant fall during March

Metal Recycling News  |  2013-05-17 02:24:49   |   By

According to the latest data released by Chinese customs, the scrap imports of the country during the month of March have recorded significant drop both year-on-year and month-on-month basis

BEIJING (Scrap Monster) : According to the latest data released by Chinese customs, the scrap imports of the country during the month of March have recorded significant drop  both year-on-year and month-on-month basis.

The country’s total imports of scrap during the month of March were 380,000 tons. The scrap imports during March have fallen by 6.6% in comparison with the imports of 407,000 tons during the previous month. The scrap imports registered a fall of 23% when compared to the total imports of 493,000 tons during March 2012.

The country’s main source of scrap imports was Japan. Almost 70% of the scrap imports to China during March were from Japan. China imported 267,000 tons of scrap from Japan. The scrap imports from Japan were up by 1.2% year-on-year.

The scrap imports from US witnessed considerable drop. The total scrap imports from the US were 63,000 tons, plummeting by 59.8% compared to the imports during same month a year ago. The scrap imports from Hong Kong also decreased by 15.6% to 16,000 tons in comparison with March 2012.

The total scrap imports by China during Q1 2013 totaled to 1.276 million tons, which is lower by 1.2% year-on-year.

The country’s main source of scrap imports during Q1 2013 was Japan. The net scrap imports from Japan during the quarter rose 8.3% year-on-year to 780,000 tons. The next largest scrap exporter to China was the US with 266,000 tons, though falling by 34.2% year-on-year. In third position is Australia with total scrap imports of 85,000 tons during the quarter this year.